COLORADO SPRINGS, Colorado - Oct. 8, 2001 - NeoCore, a provider of XML information management systems, is a new sponsor member of the Organization for the Advancement of Structured Information Standards (OASIS), the international XML interoperability consortium. NeoCore joined OASIS to support the industry-wide organization and its efforts to ensure open technical standards for use of XML on the Internet.
The sponsorship of NeoCore is no big surprise, considering that one of NeoCore's main products, NeoCore XML Information Management System (XMS), provides a high-performance XML database management system. Nevertheless, with OASIS trying to gain as much support as it can get, the move by NeoCore is significant.
"We see our sponsor membership with OASIS as an opportunity to promote XML as a worldwide language for business, said Ellen Rome, vice president of marketing for NeoCore. NeoCore is focused on providing effective and efficient native XML information-management solutions to organizations. We hope to bring some of our own technological vision to the consortium and make ongoing contributions toward standardization across all industry segments."
In more exciting news for the company, however, NeoCore's XML Information Management System (XMS) has been selected by Varro Technologies Inc. as the information platform for Varro's research knowledge-management system, designed to speed new drug development by allowing pharmaceutical and bioinformatics researchers to easily collaborate, manage vast amounts of information and reduce redundant work.
Historically, drug-discovery firms have struggled with managing and accessing information efficiently due to widely dispersed research teams, multiple and varied information repositories and non-standardized data. The ability to collaborate and share results will not only accelerate new pharmaceutical developments but will serve to improve the quality of discoveries and achieve a high rate of return on research investments.
We looked at many solutions before deciding to build our product on the NeoCore XMS database. We knew we couldn't use a relational database management system because of limitations on performance with XML and the time that it would require for us to implement the system, said Jay Venkatesan, co-founder and CEO of Varro. The NeoCore XML Information Management System (XMS) allowed us to leverage the extensibility that is inherent in XML. It also provided us needed scalability and very fast searching capability.
In the pharmaceutical industry, inefficient use of research and development time can translate to huge revenue losses. If a researcher can take advantage of the fact that someone else has already completed work in a particular area, we can easily trim one week to three months from a project, Venkatesan said. Pharmaceutical companies can potentially save $2,000 a day for every day of redundant work eliminated that's $120,000 for three months' worth of research per individual researcher. Multiply that by numerous research teams within an organization and the savings become quite significant. In fact, some industry experts believe that as much as $1 million in revenue is lost for each day a new drug is delayed in coming to market.
Ellen Rome, NeoCore's vice president of marketing, said Varro Technologies' application truly illustrates the extensibility and flexibility of NeoCore XMS. The unique capabilities and performance of NeoCore XMS are perfectly suited to this use, she said. NeoCore XMS easily accommodates changing information and data from disparate systems, and can handle increasing amounts of information without compromising performance. We are very excited that our product will help foster medical breakthroughs as part of Varro's application.
The sponsorship of NeoCore is no big surprise, considering that one of NeoCore's main products, NeoCore XML Information Management System (XMS), provides a high-performance XML database management system. Nevertheless, with OASIS trying to gain as much support as it can get, the move by NeoCore is significant.
"We see our sponsor membership with OASIS as an opportunity to promote XML as a worldwide language for business, said Ellen Rome, vice president of marketing for NeoCore. NeoCore is focused on providing effective and efficient native XML information-management solutions to organizations. We hope to bring some of our own technological vision to the consortium and make ongoing contributions toward standardization across all industry segments."
In more exciting news for the company, however, NeoCore's XML Information Management System (XMS) has been selected by Varro Technologies Inc. as the information platform for Varro's research knowledge-management system, designed to speed new drug development by allowing pharmaceutical and bioinformatics researchers to easily collaborate, manage vast amounts of information and reduce redundant work.
Historically, drug-discovery firms have struggled with managing and accessing information efficiently due to widely dispersed research teams, multiple and varied information repositories and non-standardized data. The ability to collaborate and share results will not only accelerate new pharmaceutical developments but will serve to improve the quality of discoveries and achieve a high rate of return on research investments.
We looked at many solutions before deciding to build our product on the NeoCore XMS database. We knew we couldn't use a relational database management system because of limitations on performance with XML and the time that it would require for us to implement the system, said Jay Venkatesan, co-founder and CEO of Varro. The NeoCore XML Information Management System (XMS) allowed us to leverage the extensibility that is inherent in XML. It also provided us needed scalability and very fast searching capability.
In the pharmaceutical industry, inefficient use of research and development time can translate to huge revenue losses. If a researcher can take advantage of the fact that someone else has already completed work in a particular area, we can easily trim one week to three months from a project, Venkatesan said. Pharmaceutical companies can potentially save $2,000 a day for every day of redundant work eliminated that's $120,000 for three months' worth of research per individual researcher. Multiply that by numerous research teams within an organization and the savings become quite significant. In fact, some industry experts believe that as much as $1 million in revenue is lost for each day a new drug is delayed in coming to market.
Ellen Rome, NeoCore's vice president of marketing, said Varro Technologies' application truly illustrates the extensibility and flexibility of NeoCore XMS. The unique capabilities and performance of NeoCore XMS are perfectly suited to this use, she said. NeoCore XMS easily accommodates changing information and data from disparate systems, and can handle increasing amounts of information without compromising performance. We are very excited that our product will help foster medical breakthroughs as part of Varro's application.
